When labor usage is at 12 units, output is 36 units. From this we may infer that
A) the marginal product of labor is 3.
B) the total product of labor is 1/3.
C) the average product of labor is 3.
D) none of the above
C
Economics
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During the winter, theme parks in Orlando close earlier than in the summer. The reason the theme parks close early during the winter is because during that season the marginal revenue from staying open later is ________ the marginal cost
A) greater than B) less than C) equal to D) zero compared to E) not comparable to
Economics
What are the two conditions that are met if a consumer is maximizing utility?
What will be an ideal response?
Economics